Supply and demand applied to North American Arctic

Journal Article · Mon Jan 01 00:00:00 EST 1973 · Mem. - Am. Assoc. Pet. Geol.; (United States)

OSTI ID:6557445

Steele, H B

The economic potential of petroleum production from Alaska and other possibly productive areas in the North American Arctic regions is significant. There are basic distinctions between economic and geologic potential, and between exploration, development, and production costs for petroleum. Further distinctions exist between fixed and variable costs, between short-run and long-run costs, and between those expenditures which represent outlays for the purchase of actual goods and services (labor, materials, capital goods) and those expenditures which do not (lease bonuses and rentals, royalties, and various taxes). Projected production levels for North American Arctic oil for 1980 range from 5.2 million bpd at a price of $2.30 per bbl to 9.9 million bpd at a price of $4.44 per bbl.

• Research Organization: Houston Univ., TX
• OSTI ID: 6557445
• Journal Information: Mem. - Am. Assoc. Pet. Geol.; (United States), Vol. 19
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
ALASKA
PETROLEUM DEPOSITS
ARCTIC REGIONS
PETROLEUM
PRODUCTION
SUPPLY AND DEMAND
COST
ECONOMICS
ENERGY DEMAND
ENERGY SUPPLIES
INVESTMENT
LEASING
NORTH AMERICA
PRICES
RESERVES
TAXES
DEMAND
ENERGY SOURCES
FEDERAL REGION X
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
MINERAL RESOURCES
POLAR REGIONS
RESOURCES
USA
020700* - Petroleum- Economics
Industrial
& Business Aspects
020100 - Petroleum- Reserves- (-1989)